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Bastrop EDC corrects sales-tax allocation, approves budget amendments and updates capital projects
Summary
At its April meeting the Bastrop Economic Development Corporation (BEDC) approved budget amendments after auditors identified a 2.77% sales-tax allocation variance, heard that March sales tax totaled about $81,000, and reviewed capital projects including the Blakey parcel and an Accutronics site.
The Bastrop Economic Development Corporation voted to approve a set of budget amendments after staff reported a corrected sales-tax allocation and other line-item adjustments during the BEDC's regular April meeting.
BEDC finance staff member Sylvia said auditors found a 2.77% variance between the EDC's allocation and the street maintenance fund after the audit review. "As we delve into the audit and as we were reviewing numbers, it was determined that prior sales tax allocation ... was a little loosey goosey in the percent calculation," Sylvia said. "We kind of had to, lack of better word, rip the bandage off and right the ship." The board approved the amendments as…
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